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News & Rumors

 

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UNIVERSAL STUDIOS KOREA
South Korea
Universal Studios Theme Parks

 

Park News - (1/26/10) A nice piece of aerial artwork showing off the new Universal

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Studios Korea park can be seen near the end of this update posted to Disney & More.
    (1/19/10) According to this news story the plans to build Universal Studios Korea are still moving ahead after a slight delay due to the world economy problems over the past couple of years. The new timeline is set to have a ground breaking in early 2011 and to open the new theme park by 2014. The overall resort will include the Universal Studios theme park, a CityWalk retail area, a water park, golf course, hotels and more.  To make sure someone with local ties and knowledge of the business is on board, the Lotte Group (owners of the successful Lotte World theme park resort) now has a 26.7% ownership stake in the project, and is the resorts largest shareholder.
    (12/9/09) In search of Universal Studios Korea, The Theme Park Guy takes a look around to try and find the site of where the park will get built. Construction is rumored to begin as early as mid 2010.
    (5/25/09) All new concept artwork showing off the new Paramount Movie Park and Universal Studios park opening in South Korea has been posted to the DisneyandMore Blog. There really is only one piece of artwork showing off the layout of the Universal park, but I can already see drawings of what looks like another large coaster next to the lake with a tube enclosed lift hill, much like the Hulk, but the layout is different. Way in the back corner you can see a tiny Jurassic Park flume ride building, with a wateworld style stunt show in the upper right side. Below that is what looks like a copy of Dueling Dragons and below that is a large attraction building that gives me the impression it could be another Revenge of the Mummy, but it’s hard to call the ball on that one. Still this is all basic early concept art and may not represent what the final park may look like in the end, but they’re starting off good.
    (3/29/09) Continuing his quest to track down the latest big theme park projects under construction around the world, The Theme Park Guy hit up South Korea to check in on the Universal Studios Korea project. Of course there was nothing to be seen at all… not even a construction wall. Just a large flat open piece of land where the park could be built, but there are some nice photos of all this open nothing-ness to see for his trouble. I found in interesting that he noted that the park’s proposed location took a three hour drive from the nearest airport to get to… though with a few new bridges in place, he estimates that this drive time could be cut down to put the project less than a half-hour away from the Paramount Movie Park and proposed MGM Studio Park projects.
    (11/27/07) According to CNN Money, the new Universal Studios South Korea project will end up costing $3.1 billion by the time it opens in 2012. A location has apparently been picked in Hwaseong in Gyeonggi Province about 20 miles from Seoul.
    (11/2/07) According to this news story the new Universal Studios Korea park will feature several unique attractions that tie into Korean films when it opens in 2012. This is being as a way to distinguish the park as a unique attraction with different offerings than what you will find at Universal Studios Japan. The final location for the park has not yet been chosen but USK Property Holdings (who has the exclusive rights to operate the park) announced that Korea Development Bank and Shinhan Bank have joined the consortium of companies that also include POSCO Engineering & Construction and Korea Investment & Securities to build the park.
    (5/23/07) In the middle of a story about the just announced Universal Studios park planned for South Korea, there is a brief mention about how the planned MGM Studios park in South Korea was aborted when land prices spiked in the area where they wanted to build it. This is the first news I’ve heard about the MGM park being dead, in fact last I heard things were ramping up under the veil of secrecy.
    (5/22/07) According to the Reuters, Universal Parks and Resorts have signed a deal with a South Korea company to build a Universal Studios theme park and resort in the country. According to Thomas L. Williams, chairman and Chief Exec of Universal Parks & Resorts, “Korea has grown into an attractive market in many necessary and critical aspects for a theme park and resort development in terms of income, population, consumer interest and growth of the entertainment industry.” So far this year, this is the third new international Universal Studios theme park project announced after Singapore and Dubai. The plan is to open the new park by 2012.

 
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